The Reserve Bank of India (RBI) has, by an order dated April 29, 2025, imposed a monetary penalty of ₹29.60 lakh (Rupees Twenty nine lakh sixty thousand only) on Axis Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Un-authorized Operation of lnternal / Office Accounts’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated April 29, 2025, imposed a monetary penalty of ₹97.80 lakh (Rupees Ninety seven lakh eighty thousand only) on ICICI Bank Ltd. (the bank) for non-compliance with certain directions issued by RBI on ‘Cyber Security Framework in Banks’, ‘Know Your Customer (KYC)’, and ‘Credit Card and Debit Card – Issuance and Conduct’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated April 30, 2025, imposed a monetary penalty of ₹31.80 lakh (Rupees Thirty one lakh eighty thousand only) on Bank of Maharashtra (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated April 30, 2025, imposed a monetary penalty of ₹31.80 lakh (Rupees Thirty one lakh eighty thousand only) on IDBI Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘lnterest Subvention Scheme

The Reserve Bank of India (RBI) has, by an order dated April 29, 2025, imposed a monetary penalty of ₹61.40 lakh (Rupees Sixty One Lakh Forty Thousand only) on Bank of Baroda (the bank) for non-compliance with certain directions issued by RBI on ‘Financial Services provided by Banks’ and ‘Customer Service in Banks’ read with ‘Interest Rate on Deposits’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.